Additional details reconciling the selected non-GAAP financial measure to the selected GAAP financial measure may be found in "Notes on Non-GAAP Financial Measures."
|
Summary of Schedule Reconciling Selected Non-GAAP Financial Measures | ||||||||||||
|
(unaudited, in millions, except for per share amounts) | ||||||||||||
|
| ||||||||||||
|
|
|
Quarter Ended September 27, 2015 | ||||||||||
|
|
|
GAAP |
|
Non-GAAP Adjustments |
|
Non-GAAP | ||||||
|
Net sales |
|
$ |
328.8 |
|
|
$ |
— |
|
|
$ |
328.8 |
|
|
Gross profit |
|
$ |
174.8 |
|
|
$ |
11.0 |
|
|
$ |
185.8 |
|
|
Operating income |
|
$ |
32.3 |
|
|
$ |
52.5 |
|
|
$ |
84.8 |
|
|
Net income |
|
$ |
25.3 |
|
|
$ |
45.0 |
|
|
$ |
70.3 |
|
|
Diluted earnings per share |
|
$ |
0.26 |
|
|
$ |
0.47 |
|
|
$ |
0.73 |
|
Additional details reconciling the selected non-GAAP financial measure to the selected GAAP financial measure may be found in the "Schedule Reconciling Selected Non-GAAP Financial Measures" and "Notes on Non-GAAP Financial Measures."
|
Consolidated Condensed Statements of Income | ||||||||||||||||||||
|
(unaudited, in millions, except for per share amounts) | ||||||||||||||||||||
|
| ||||||||||||||||||||
|
|
|
Quarter Ended |
|
Fiscal Year Ended | ||||||||||||||||
|
|
|
Sep 27,
|
|
Jun 28,
|
|
Sep 28,
|
|
Sep 27,
|
|
Sep 28,
| ||||||||||
|
Net sales |
|
$ |
328.8 |
|
|
$ |
317.1 |
|
|
$ |
303.3 |
|
|
$ |
1,245.6 |
|
|
$ |
1,138.3 |
|
|
Cost of sales |
|
154.0 |
|
|
145.0 |
|
|
132.3 |
|
|
561.3 |
|
|
526.8 |
| |||||
|
Gross profit |
|
$ |
174.8 |
|
|
$ |
172.1 |
|
|
$ |
171.0 |
|
|
$ |
684.3 |
|
|
$ |
611.5 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Operating expenses |
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Selling, general and administrative |
|
$ |
61.0 |
|
|
$ |
63.4 |
|
|
$ |
58.9 |
|
|
$ |
243.3 |
|
|
$ |
238.1 |
|
|
Research and development |
|
54.0 |
|
|
52.3 |
|
|
50.6 |
|
|
200.3 |
|
|
192.0 |
| |||||
|
Amortization of intangible assets |
|
25.4 |
|
|
24.8 |
|
|
23.1 |
|
|
96.5 |
|
|
92.8 |
| |||||
|
Restructuring and severance charges |
|
1.4 |
|
|
1.6 |
|
|
1.8 |
|
|
13.9 |
|
|
17.6 |
| |||||
|
Facility consolidation charges |
|
— |
|
|
1.5 |
|
|
2.7 |
|
|
1.5 |
|
|
13.9 |
| |||||
|
Acquisition related costs |
|
0.7 |
|
|
3.3 |
|
|
0.5 |
|
|
6.2 |
|
|
2.9 |
| |||||
|
Total operating expenses |
|
$ |
142.5 |
|
|
$ |
146.9 |
|
|
$ |
137.6 |
|
|
$ |
561.7 |
|
|
$ |
557.3 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Operating income |
|
$ |
32.3 |
|
|
$ |
25.2 |
|
|
$ |
33.4 |
|
|
$ |
122.6 |
|
|
$ |
54.2 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Interest and other (expense), net |
|
(4.8) |
|
|
(8.0) |
|
|
(6.5) |
|
|
(25.7) |
|
|
(30.3) |
| |||||
|
Income before income taxes |
|
$ |
27.5 |
|
|
$ |
17.2 |
|
|
$ |
26.9 |
|
|
$ |
96.9 |
|
|
$ |
23.9 |
|
|
Provision (benefit) for income taxes |
|
2.2 |
|
|
2.5 |
|
|
(5.9) |
|
|
12.3 |
|
|
0.8 |
| |||||
|
Net income |
|
$ |
25.3 |
|
|
$ |
14.7 |
|
|
$ |
32.8 |
|
|
$ |
84.6 |
|
|
$ |
23.1 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Earnings per share |
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Basic |
|
$ |
0.27 |
|
|
$ |
0.16 |
|
|
$ |
0.35 |
|
|
$ |
0.90 |
|
|
$ |
0.25 |
|
|
Diluted |
|
$ |
0.26 |
|
|
$ |
0.15 |
|
|
$ |
0.34 |
|
|
$ |
0.88 |
|
|
$ |
0.24 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Weighted-average common shares outstanding |
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Basic |
|
94.3 |
|
|
94.5 |
|
|
93.6 |
|
|
94.2 |
|
|
92.9 |
| |||||
|
Diluted |
|
96.5 |
|
|
96.4 |
|
|
95.6 |
|
|
95.9 |
|
|
94.5 |
| |||||
